GreenRoc study shows “significant increase” in plant value

GreenRoc Strategic Materials PLC – a London-based mining company with operations in Greenland – releases an updated feasibility study for its proposed graphite mine in Amitsoq, South Greenland. The study was conducted by SLR Consulting Ltd and partly funded by a £250,000 grant from Innovate UK’s Automotive Transformation Fund. Process design improvements, including on-site production of nitrogen and deionised water, increased capital expenditure by 6% from US$321 million to US$340 million, while operating expenditure decreased by 18% from US$2,211 to US$1,872 per tonne of coated spherical purified graphite. In addition, the reported after-tax net present value at an 8% discount rate for its anode plant increased by 14% from $545 million to $621 million, and the internal rate of return also increased from 25.3% to 26.5%. GreenRoc describes this as a “significant increase in the net present value of the anode plant.”

The study also investigated the use of sodium hydroxide instead of hydrofluoric acid for alkaline cleaning. This resulted in an increase in capital costs from $340 million to $395 million, but a reduction in operating costs from $1,872 to $1,662 per tonne. The company will conduct further tests to refine its sodium hydroxide process.

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By Aidan Lane, Alliance News reporter

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